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<br />6. In Section Eight, Financial Analysis: <br /> <br />· The revenue and expenditure projections in Appendix D should be included in <br />this section of the report (instead of an appendix) and discussed here. <br /> <br />· Is the MLIC still intending to pay for the remainder of project costs (not <br />covered by a CWCB loan) with a special assessment? <br /> <br />· Does the column labeled "Operation & Maintenance" include annual <br />payments to the PRWCD? <br /> <br />· What types of revenues are included in the second column labeled "Income" <br />under "Annual Revenues" in the tables? <br /> <br />· Add a full discussion of collateral here including the allotment contracts with <br />the PRWCD. What percentage or amount of the MLIC water rights will the <br />Company be able to pledge as collateral? <br /> <br />7. In the Economic Analysis in Section Nine, the benefits should be compared with the <br />total costs ofthe project, not the CWCB loan only. <br /> <br />8. Somewhere in the report, maybe in the Economic Analysis, it would be helpful to <br />include a discussion of what would happen in the absence of the project, the "No- <br />Action Alternative". <br /> <br />9. On page 9-1, the paragraph that begins "The current shareholder assessment. . ." <br />should be moved to the financial section of the report. <br /> <br />10. In the last paragraph on page 10-1, the sentence stating "The net financial benefit of <br />repairing the dam exceeds [the annual cost ofloan repayment]" should be revised to <br />compare the benefits with the total annual cost of the proiect per comment number 7. <br /> <br />11. In the Conclusions on page 10-1, a brief discussion of the financial feasibility of the <br />project should be added. <br />